Rent Laws Shield Rent‑Stabilized Second Homes

Changes to New York’s rent‑stabilization regime after 2019 eliminated landlord incentives to evict or deregulate non‑primary occupants, allowing tenants to hold rent‑stabilized units as occasional second homes. That loophole likely affects many more units than the roughly 13,000 luxury apartments targeted by the new $5M pied‑à‑terre tax, meaning the policy focus may be misdirected. — If true, the idea implies that housing policy should prioritize enforcement and reform of stabilization incentives (HSTPA and enforcement mechanisms) rather than taxing high‑end second homes alone, because the larger allocation problem is in mid‑market subsidized units.